Standard Motor Products, Inc. Taps Kyriba to Automate Cash Management

  • Cash management , Risk Management
  • 06.01.2017 06:30 am

Kyriba Corp., the global leader in cloud-based treasury, cash and risk management solutions, today announced Standard Motor Products, Inc. (NYSE: SMP) selected Kyriba to automate its cash management operations, create a single source of information and data archive with the added benefit of reducing paper, a green initiative for the organization.   

Established in 1919, Standard Motor Products is a leading independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket, heavy duty, industrial equipment, original equipment manufacturer, and original equipment service markets. SMP supplies warehouse distributors, large retail chains, original equipment manufacturers and original equipment service part operations with high quality replacement parts for engine management ignition, emission and fuel systems as well as temperature control air conditioning and heating products in the United States, Canada, Latin America, and Europe.

James J. Burke, Executive Vice President Finance and Chief Financial Officer, Standard Motor Products, said: “We are taking a progressive approach to cash management, and look forward to automating the rigors of daily cash positions with Kyriba so our team can focus on higher level tasks. After a detailed research process for a treasury management solution, we realized Kyriba’s modular SaaS offering combined with their reputation for excellent customer service was best aligned to our requirements.”

Jean-Luc Robert, Chairman and CEO, Kyriba, said: “Automation adds security and reduces manual tasks, which creates operational advantages for organizations such as Standard Motor Products and others who have high transaction volumes. We are seeing more organizations turn to the cloud to reduce paper storage as part of their green initiatives.”

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